-The Indian Express There is an ambiguous provision to Levy income tax on “dairying”. Either the provision should be removed or it should be clarified that it does not include dairy farmers. Dairying is a part of agriculture and as per the Constitution, it is a state subject. Those in power may not yet be accepting blame for the barrage of negative news on the state of the economy, but cracks are...
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With GI tag, will the Tirur betel leaf go places? -V Sajeev Kumar
-The Hindu Business Line Kochi: Kerala betel leaf farmers are pinning hopes on the Geographical Indication status received for Tirur Vettila, the unique betel leaf variety from Malappuram district of the State, as the tag is likely to enhance its marketability in Asian markets. Pakistan was a major market for Tirur Vettila till 2016, when the government imposed restrictions by Levying additional duties on the merchandise trade between the two countries following...
More »The corporate tax cut could undermine the promise to cap the fiscal deficit
-The Telegraph A low tax regime is not enough; investors need to see demonstrable action to ease the pangs of doing business in India A wave of euphoria has swept through industry and stock markets since the finance minister, Nirmala Sitharaman, announced a sharp cut in corporate tax to an effective rate of 25.17 per cent. The effective tax rate will now go down sharply from a high of 34.94 per cent,...
More »Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...
More »Budget riddle on cash withdrawals: 'Income' tax on 'non-income' -Sambit Saha
-The Telegraph The obvious question: if the cash withdrawal isn’t designated as “income”, how can you tax it under the “income” tax act? The Narendra Modi government has left tax consultants and legal eagles deeply puzzled as they try to wrap their heads around the legalese of a change to the income-tax act. The change, incorporated in the budget presented by Nirmala Sitharaman and amended afresh on Thursday, mandates banks to deduct a...
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